In a statement published on Thursday, the regulator confirmed that enrolments for the February Cycle 20 sitting will open on 10 January and close on 30 January.

Additionally, sitting dates were confirmed for the remainder of the year, including:

• Exam sitting 21 - Thursday 11 May (enrolments open from 3 April to 21 April)
• Exam sitting 22 - Thursday 10 August (enrolments open from 3 July to 21 July)
• Exam sitting 23 - Thursday 9 November (enrolments open 2 October to 20 October)

Speaking at the FPA Professionals Congress in Sydney last week, ASIC senior executive leader, Leah Sciacca, said that the format of the exam is in the Minister’s remit.

“There is a determination that sets out what that exam format needs to be. It sets out things like what sort of feedback can be provided to candidates sitting the exam,” she said.

“It’s really quite prescriptive, so in terms of any changes being made to the exam, that is a matter for the Minister and the government.”

In September, ASIC revealed that a total of 328 candidates (52 per cent) had passed this year’s July and August financial adviser exam which was sat by 628 who participated.

This sitting was the last opportunity for advisers who were operating under the nine-month exam extension to pass the exam. From 1 October 2022, all financial advisers were required to have passed the exam to continue to provide personal advice.

ASIC had earlier confirmed that anyone eligible for the extension who had not passed in any of the three cycles this year would not be able to provide personal advice from 1 October.